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Railways to pay higher dividend despite dip in cash surplus
Indian Railways will be paying a higher dividend of Rs 5,479 crore during the current fiscal despite over Rs 3,000 crore dip in cash surplus on account of higher wage bill following implementation of the Sixth Pay Commission award.

Positive IIP numbers fail to enthuse markets
The markets chose to ignore the strong index of industrial production (IIP) numbers to shed nearly one per cent in a volatile session of trade. The Sensex closed at 15696.03, lower by 153.57 points, and the Nifty faced resistance around the 5,000 mark to end at 4,952.65, down 51.30 points. Realty, metal and banking sectors were the major draggers.

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Banks to hike lending rates on commercial realty loans
The Reserve Bank of India"s (RBI) decision to up commercial real estate property loan provision of banks may force the lenders to hike lending rates to the sector in the near term, said bankers.
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Air Deccan still airborne two-yrs after sale to Kingfisher

Air Deccan as an airline may have flown into sunset with Kingfisher buying it out two years ago, but the brand continues to fly the Indian skies as about 10 jets of the erstwhile carrier are yet to be repainted by the new owner. - Aviation sector to turn the corner in 2010: Praful - Kingfisher to fly between Nepal and India - Kingfisher to fly between Nepal and India - Jet "still talking" to Kingfisher for code sharing - Kingfisher leads loss-making list of carriers - Bird hits cause Rs 7 cr loss for airlines "About 10 airplanes from the (Air) Deccan fleet are yet to be repainted and rebranded by Kingfisher," a senior Kingfisher Airlines official told PTI. Most of the Air Deccan aircraft that await repainting are small single-aisle ATR jets. When contacted, the Kingfisher Airlines spokesperson said re-painting of aircraft is typically done when the aircraft visits the MRO (Maintenance, repair, overhaul) workshop for scheduled maintenance checks. "It doesn"t make any sense to pull out an otherwise completely airworthy aircraft from regular commercial service, only to get it re-painted with the Kingfisher brand name," the spokesperson added. The Vijay-Mallya led carrier had acquired Air Deccan founded by Capt G R Gopinath in 2007. It had acquired 26 per cent for Rs 550 crore and later made an open offer for another 20 per cent taking its overall holding to 46 per cent. Air Deccan was subsequently rebranded as "Fly Kingfisher" after the Karnataka High Court gave final approval for a merger of the two companies last year. Yet, Capt Gopinath had continued to hold around 10 per cent stake in the new entity but gradually he had reduced stake to little over one per cent in September 2009. Kingfisher currently has a fleet of 71 aircraft comprising ATR and Airbus jets.


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